Banc of California Inc (BANC) Shares Bought by EJF Capital LLC

EJF Capital LLC lifted its stake in Banc of California Inc (NYSE:BANC) by 6.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,047,039 shares of the bank’s stock after acquiring an additional 64,527 shares during the period. Banc of California accounts for approximately 1.5% of EJF Capital LLC’s holdings, making the stock its 17th biggest position. EJF Capital LLC’s holdings in Banc of California were worth $19,789,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of BANC. Tyers Asset Management LLC lifted its stake in shares of Banc of California by 64.9% in the 2nd quarter. Tyers Asset Management LLC now owns 7,600 shares of the bank’s stock worth $149,000 after acquiring an additional 2,992 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Banc of California in the 3rd quarter worth approximately $192,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Banc of California in the 2nd quarter worth approximately $194,000. Sei Investments Co. lifted its stake in shares of Banc of California by 157.9% in the 2nd quarter. Sei Investments Co. now owns 11,669 shares of the bank’s stock worth $228,000 after acquiring an additional 7,145 shares during the period. Finally, Seidman Lawrence B acquired a new stake in shares of Banc of California in the 3rd quarter worth approximately $236,000.

In other Banc of California news, CAO Michael Alan Smith bought 4,600 shares of the business’s stock in a transaction that occurred on Friday, November 2nd. The stock was acquired at an average cost of $16.50 per share, with a total value of $75,900.00. Following the completion of the purchase, the chief accounting officer now directly owns 13,959 shares in the company, valued at $230,323.50. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 18.08% of the stock is owned by corporate insiders.

A number of brokerages have recently weighed in on BANC. ValuEngine lowered shares of Banc of California from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Raymond James reduced their price target on shares of Banc of California from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Monday, November 12th. Finally, Zacks Investment Research raised shares of Banc of California from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Friday, October 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $20.60.

BANC stock opened at $16.85 on Tuesday. Banc of California Inc has a 12 month low of $14.11 and a 12 month high of $23.30. The company has a market cap of $871.21 million, a P/E ratio of 23.56, a price-to-earnings-growth ratio of 2.10 and a beta of 0.99. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.53.

Banc of California (NYSE:BANC) last released its earnings results on Thursday, October 25th. The bank reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. Banc of California had a net margin of 10.47% and a return on equity of 8.38%. The business had revenue of $76.02 million during the quarter, compared to analyst estimates of $78.99 million. Equities analysts predict that Banc of California Inc will post 0.67 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 17th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 3.09%. The ex-dividend date is Friday, December 14th. Banc of California’s dividend payout ratio is presently 63.41%.

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Banc of California Profile

Banc of California, Inc operates as the bank holding company for Banc of California, National Association that provides banking products and services in the United States. The company's deposits consist of checking, savings, money market, retirement, and interest and non-interest bearing demand accounts, as well as certificates of deposit; and commercial and consumer loan products include commercial and industrial loans, commercial real estate loans, multi-family loans, small business administration (SBA) guaranteed business loans, construction and renovation loans, single family residential mortgage loans, warehouse loans, asset-insurance-or security backed loans, home equity lines of credit, consumer and business lines of credit, home equity loans, and other consumer loans.

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Institutional Ownership by Quarter for Banc of California (NYSE:BANC)

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